AE Wealth Management LLC Sells 21,777 Shares of Chevron Co. (NYSE:CVX)

AE Wealth Management LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 6.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 331,620 shares of the oil and gas company’s stock after selling 21,777 shares during the quarter. AE Wealth Management LLC’s holdings in Chevron were worth $51,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Gilbert & Cook Inc. boosted its position in shares of Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after acquiring an additional 369 shares during the last quarter. Aveo Capital Partners LLC boosted its position in shares of Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after acquiring an additional 82 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after acquiring an additional 4,047 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in shares of Chevron by 6.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after acquiring an additional 680 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in Chevron by 18.9% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,181 shares of the oil and gas company’s stock worth $325,000 after buying an additional 347 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.7 %

Chevron stock opened at $144.98 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The stock’s 50 day simple moving average is $148.26 and its two-hundred day simple moving average is $154.47. The firm has a market cap of $267.19 billion, a PE ratio of 13.34, a P/E/G ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.50%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial lowered their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.